Don’t Look at the Dow

Hey, it’s the Friday afternoon before Super Bowl LII (that’s 52 in Roman numerals to you), don’t look at your Dow Jones ticker or your Bloomberg Terminal. Really, it will just ruin your weekend.

This was the worst week of trading since February 2016, with the Dow having plunged 650+ points for the week.

Ready for some uplifting and silly Super Bowl ads yet?

Why the sudden drop?

Earlier in the day, all looked rosy. The jobs report was pretty good, and even showed that average hourly earnings rose 2.9 percent YOY, some of the fastest growth seen in years.

But the interest rates have started an upturn, and the yield on the 10-year Treasury note rose to more than 2.8 percent, the highest level it has witnessed in four years.

You sure you’re not ready for some Super Bowl ads?

The markets be simply be responding to the idea that the era of “easy money” is finally coming to an end.

Now, I’ll quote from one of my favorite, classic Budweiser ads.

“Wazzzzzuppppppppp!!!????”

Today, not the stock market!